CIL close to India’s 3rd most valued firm

CIL close to India’s 3rd most valued firm

New Delhi: Coal India Ltd (CIL), which made a big-bang debut on bourses last week, is just short of Rs731 crore to de-throne State Bank of India (SBI) as the country’s third most valued firm with a market cap of over Rs2.21 lakh crore.

With a total market capitalisation of Rs2,20,851.53 crore, state-run coal behemoth is the fourth most valuable firm which is behind Reliance Industries (which tops the list of 10 most valuable firms), ONGC (at the second spot) and SBI.

SBI, which hit its life time high level on Friday during the Muhurat trading, has a market cap of Rs2,21,582.94 crore.

Many analysts believe that going by the response CIL received during the IPO and post listing it will not be difficult for the company to add more value to its stock.

“There are fairly valued chances for the state-run firm to become the third largest company in terms of market-cap. In the days to come the stock will be in limelight, grabbing the attention of foreign institutional investors," Ashika Brokers research head Paras Bothra said.

Coal India, which mopped-up a record Rs15,200 crore through a mega IPO, made its entry on bourses on Thursday last week and in merely two sessions the scrip gained 43% over its IPO issue price of Rs245 a share.

During the week ended Friday, the country’s 10 most valuable firms ended with smart gains. Interestingly, in the week, the BSE benchmark Sensex closed above the magical 21,000 level, for the first time in the history.

On Friday, the 30-share index of the BSE ended at 21,004.96, recording a gain of 5% for the week.

During the week, Mukesh Ambani-led energy giant RIL added Rs3,648.7 crore to take its total m-cap to Rs3,62,236 crore.

State-run ONGC too witnessed its valuation swelling by a whopping Rs16,234 crore to Rs2,94,982.26 crore.

Similarly, two of the country’s top lenders SBI and ICICI Bank together added Rs33,895.41 crore to their combined market valuations. The m-cap of ICICI Bank was at Rs1,45,781.88 crore.

Two of the IT bellwethers, Tata Consultancy Services and Infosys Technologies, too added Rs11,355.92 crore to their combined m-cap. The valuation of TCS and Infosys stood at Rs2,10,888 crore and Rs1,76,792.84 crore, respectively.

Power major NTPC’s valuation edged higher by Rs1,030.69 crore to Rs1,61,775.93 crore and that of FMCG giant ITC by Rs4,748.28 crore to Rs1,36,251.38 crore.

MMTC ended last in the list with an m-cap of Rs1,32,025 crore after adding Rs3,020 crore to its valuation and replaced telecom major Bharti Airtel.